HAMILTON, Bermuda –Catlin Group Limited, (‘CGL’; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that Andrew McMellin, currently the Group’s deputy chief underwriting officer, will become chief executive officer of Catlin US, with effect from 1 September 2012. Andrew will remain a member of the Catlin Group Executive Committee.
Catlin US is the Catlin Group’s US underwriting hub, which is headquartered in Atlanta and operates 20 offices, including two in Latin America. Catlin US also includes two wholly owned admitted insurance carriers and a non-admitted insurer. Catlin US’s gross premiums written amounted to US$852 million in 2011.
Current Catlin US CEO Richard S. Banas will continue as a member of the Group Executive Committee and will assume the additional roles of chairman of Catlin’s underwriting hubs in the Asia-Pacific region and Canada. In these roles he will work with the hubs’ leadership teams to assist with the hubs’ further development. He will also lead the Group’s insurance-related strategic investment activities in the United States.
Stephen Catlin, chief executive of Catlin Group Limited, said:
“I am pleased to announce that Andrew McMellin will succeed Richard Banas as CEO of Catlin’s US underwriting hub. Andrew has distinguished himself during his 13 years at Catlin in a variety of underwriting roles, culminating in serving as deputy chief underwriting officer of the Group and a member of the Group Executive Committee. I am delighted that Andrew is assuming responsibility for our growing US operations as a time when market conditions are improving in the US.
“The success of Catlin’s US underwriting hub has been largely due to Rich Banas’ leadership. When Rich joined Catlin in 2006, our US operations consisted of two small offices that wrote a negligible amount of premium volume. We now operate 20 offices in the US and Latin America which will underwrite gross premiums of nearly US$1 billion this year. Most importantly, Rich has successfully recruited a team of more than 400 experienced underwriters and insurance professionals whose goals and values mirror those of the rest of the Group. Rich will now focus largely on continuing to build Catlin’s operations in the Asia-Pacific region and Canada, which offer tremendous opportunities for continued profitable growth for Catlin.”
Andrew McMellin joined Catlin in London in 1999 as class underwriter for Non-Marine Liability business and was appointed underwriting director for Casualty business classes in 2003. He was appointed deputy underwriter of the Catlin Syndicate in 2006, Group underwriting director in 2008 and deputy chief underwriting officer of the Catlin Group in 2009. Prior to joining Catlin, Andrew was Liability class underwriter for M W Drysdale & Others, Syndicate 820 and was a divisional director in the Casualty Team of Willis' London Market Broking unit.
Richard S. Banas joined Catlin in April 2006 as president and chief executive officer of Catlin US. Prior to joining Catlin he was executive vice president and chief underwriting officer of XL Professional Lines. He previously served as chief underwriting officer for XL’s global insurance operations. He also served as a managing director of One Beacon Insurance Group and as senior vice president and chief insurance operating officer at CGU-North America. He held various underwriting and business development responsibilities at St. Paul Fire and Marine Insurance Company, where he worked for more than 20 years.
For more information contact:
Media Relations
James Burcke, Head of Communications, London
Tel: +44 (0)20 7458 5710
Mobile: +44 (0)7958 767 738
E-mail: james.burcke@catlin.com
Liz Morley, Maitland, London
Tel: +44 (0)20 7379 5151
E-mail: emorley@maitland.co.uk
Investor Relations
William Spurgin, Head of Investor Relations, London
Tel: +44 (0)20 7458 5726
Mobile: +44 (0)7710 314 365
E-mail: william.spurgin@catlin.com
Notes to editors:
- Catlin Group Limited, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide through six underwriting hubs. Gross premiums written in 2011 amounted to US$4.5 billion.
- Catlin has established operating hubs in London, Bermuda, the United States, the Asia-Pacific region, Europe and Canada. Through these hubs, Catlin works closely with policyholders and their brokers. The hubs also provide Catlin with product and geographic diversity. Altogether, Catlin operates more than 55 offices in 21 countries.
- Catlin's underwriting units are rated 'A' by A.M. Best and Standard & Poor's.
- Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com.
- Catlin is the title sponsor of the Catlin Seaview Survey, a major scientific expedition later this year that will include the first comprehensive study to document the composition and health of sections of the Great Barrier Reef across an unprecedented range of depths. The scientific data gathered by the Catlin Seaview Survey will strengthen the understanding of how climate change and other environmental changes are likely to affect ocean ecosystems. More information is available at www.catlinseaviewsurvey.com.
